Disney buys Lucasfilm from George Lucas
October 31 , 2012
Disney is set to acquire Lucasfilm, the company behind the Star Wars franchise, from its chairman and founder George Lucas for $4.05 billion.
Lucas said: "It's now time for me to pass Star Wars on to a new generation of film-makers."
In a statement announcing the deal, Disney said it planned to release episode seven of Star Wars in 2015.
That will be followed by episodes eight and nine and a new film every two or three years, the company added.
The last Star Wars film was 2005's Revenge of the Sith.
Disney will pay about half the amount in cash and the other half in stock, issuing 40 million Disney shares in the transaction.
The deal is the latest in a series of acquisitions made by Disney. In 2006, Disney bought Pixar studios for $7.4 billion and later purchased Marvel comics for $4.2 billion in 2009.